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Education Realty Trust receives $5 million payment (AP)

Tue, 17 Jun 2008 20:50:48 Etc/GM

MEMPHIS, Tenn. (AP) -- Real estate investment trust Education Realty Trust Inc. said Tuesday it received a $5 million lease termination fee from Place Properties Inc.

The fee was previously agreed upon after Place Properties terminated its lease of 13 properties owned by Education Realty.

Education Realty used the $5 million to pay down its line of credit.

Shares of Education Realty Trust fell 28 cents, or 2.2 percent, to close at $12.72. The stock has traded between $9.95 and $14.50 over the past 52 weeks.


source: http://biz.yahoo.com/ap/080617/education_realty_trust_lease_termination.html?.v=1

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